Is Canada heading down the financial toilet like the rest of the World? ……….. it’s inevitable!

Posted: June 2, 2013 in Uncategorized

Has Canada’s banking supremo, Mark Carney, left Canada for England and eventually Europe and been replaced by a less than glossier version of Carney in order to be the front man when Canada’s Banking Bubble bursts???

The new guy, Stephen Poloz, could well be summed up in one word: WHO?

That’s the point………………hand picked by Flaherty to fill the huge hole that Carney has dug for Canada’s financial future, this guy will be blamed for it’s downfall and everyone can then go back to sleep, hopefully not in a gutter, while Carney maintains his “heady elitist connections” in Europe and eventually maybe even China.

So here we are, all set up to stare a redlined balance sheet straight in the eyes and ask: “what the hell just happened”???

Feel a little overwhelmed at how the world is basically crumbling and values once held high and untouchable by honest men and women seem to be like yesterdays trash? You’re not alone.

A master plan of transfer of wealth from the pockets of the common man to the bankers and investment “players” of the world is in high gear and is reflected on the faces of the billions of unemployed and poor people wandering the streets with tombstones in their eyes.

Sad testimony in a World with so much hope only 50 years ago.

Meet Stephen Poloz – The Canadian Patsy

 Saturday, May 11, 2013

Also available at

Stephen Poloz is the new Bank of Canada Governor. Before this he headed Export Development Canada, a federal Crown CorporationMainstream critics argue that Poloz doesn’t have the “macroeconomic” experience and that he lacks the connections to the world’s central banks that Tiff Macklem has. These objections may be true but they miss the point. He’s supposed to be a dim-witted inexperienced bureaucrat chosen by PMO influence. Poloz has been set-up to take the fall for Carney’s actions. That’s the point.

As far as central bankers go, Mark Carney is a rock star. His cult of personality in the mainstream media influence how people see him. Very few actually look what he specifically did during the 2008 financial crisis. Most journalists focus on him as if he was a public relations issue and skim over these facts: In the wake of the ’08 crisis, Carney’s BoC cut interest rates, supplied the banks with credit and – along with the federal government – facilitated an increase of the CMHC’s balance sheet. These actions ensured that Canada would one day face the same credit crisis and economic depression as the rest of the Western World.

This is where Stephen Poloz comes in. Mark Carney is too much of a celebrity to waste his time in Canada. He’ll head the Bank of England before (probably) moving on to global central bank issuing a global fiat currency. In the meantime when the Canadian credit bubble bursts the media zeitgeist will probably be along the lines of: “oh why, oh why, did we let Mark Carney go? We should have begged him to stay!”

But let’s not forget the Harper Government. Poloz was chosen by Finance Minister Jim Flaherty. Export Development Canada is a crony-capitalist organization that worked closely with the PMO in the auto bailouts. Critics of Harper will jump on this bandwagon pronto, but without realizing that Macklem wouldn’t have been the better choice.

Tiff Macklem was Carney’s right-hand man, a sturdy reliable fella that would steer Canada’s economy through the next crisis. So obviously he wasn’t going to get the job. The establishment need a boob and Poloz is their guy. Now perhaps I’ve arranged the argument to produce the results I expect. The mainstream media never attacked Carney and it’s possible they’ll never criticize Poloz. Poloz is the “partisan choice” as chosen by the Harper Government. So the bursting of the housing bubble will be Harper’s fault. And if Poloz is no Mark Carney, then this is also Harper’s fault. The mainstream media will never scrutinize the BoC until Canadians demand it.

Mark Carney’s False Ideology

Monday, May 20, 2013

Also available at

Neil Macdonald of the CBC recently did an investigative piece on central bankers and what they’re doing to the world’s economies. Mark Carney was featured heavily. He told Macdonald, “there is no secret cabal orchestrating things,” despite CBC’s own findings earlier in the program. Central bankers around the world meet in Basel, Switzerland for secretive meetings. Of course, central banks have – and have always had – enormous power that remained more-or-less hidden until 2008. A paradigm shift is occurring where a large number of people (particularly young people) are questioning their assumptions. Some of them are even beginning to read economists like Ludwig von Mises and Murray Rothbard. The “economics” of central bankers can now be revealed for what it truly is: statistical propaganda. Not only is the “Keynesian school” of economics unsound – the entire social science is bunk. Only the Austrian tradition can explain economic phenomena in such a way that makes common sense, scientific. Carney is asking us to trust him. This cannot be done. He is not speaking truth; he is speaking nonsense.
Who is Mark Carney?
Mark Carney: Bank of Canada governor, soon-to-be Bank of England governor. He was born in the Northwest Territories 48 years ago. He graduated from the University of Alberta in Edmonton before studying economics at Harvard and getting his master’s and doctorate from Oxford. He spent 13 years with Goldman Sachs in London, Tokyo, New York and Toronto. He then worked for the Department of Finance under both the Liberal and Conservative governments. He joined the Bank of Canada as a deputy governor before moving on into the top position. This was in 2007, just in time for the bursting of US housing bubble. Like every other central banker in the wake of the crisis, Mark Carney lowered interest rates and helped governments bail out large institutions.

What makes Carney unique is that he bumped up rates by a percent in 2010. Hardly a radical reversal, but it is something the US Federal Reserve has yet to accomplish. Carney got away with it because, at the time, Canadians were not as heavily indebted. The “boom” was still in its infancy. Carney still threatens to raise interest rates, but nobody believes him. All he does is give verbal warnings to Canadians that “taking advantage” of low rates is a bad idea. Despite all those educational institutions under his belt, Mark Carney does not understand human action.

Now he is bailing himself out from Canada’s certain crash and heading across the pond to lead the Bank of England. An already depressed economy, Britain won’t be any better under Carney’s rule alas he dismantles the Bank or at the very least raises interest rates to astronomical levels. Carney won’t do either of those things though because Mark Carney is a Keynesian. That is, the work of John Maynard Keynes influence his decision-making in macroeconomic analysis. This ideological view of society and its economic structure is one where no capital structure exists. Absurd given that nearly all consumer goods need some kind of input of capital stock. Keynesians also have a peculiar view on scarcity – a view that makes no economic sense whatsoever.

The public tend to have an unfavourable view of economics and economists – and for good reason. “Economics” is as dismal as it sounds; making economic sense is a whole other ball game. For Mark Carney, “economics” resembles something like physics and history. Although Carney would probably concede to the notion that an economy needs entrepreneurs and capital accumulation, his ideology assumes inherent failures in this process that must be corrected by state intervention. In actuality, it is state intervention that inhibits entrepreneurship, savings and investment. Therefore the Bank of Canada publishes nonsense. Their CPI indexes and growth estimates are results of computer models that produce the results they expect. Lately, this method has been failing as economies stagnate where the BoC’s arithmetic predicts growth.


  1. Mike Bruton says:

    Mark Carney has been presented to the UK as someone who is uber talented and an answer to all our problems. He has all political parties here in his thrall.

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